Application of Conversion Amounts Clause Samples

The 'Application of Conversion Amounts' clause defines how amounts resulting from the conversion of one currency or asset into another are to be handled within the agreement. Typically, this clause specifies the timing, method, and applicable exchange rates for such conversions, and may outline which party is responsible for any costs or fluctuations associated with the process. Its core function is to ensure clarity and fairness in financial transactions involving conversions, thereby minimizing disputes and uncertainties related to currency or asset value changes.
Application of Conversion Amounts. Any amounts converted by the Holder pursuant to Section 2.1(b) shall be deemed to constitute payments of, or applied against, (i) first, outstanding fees, (ii) second, accrued interest on the Principal Amount, and (iii) third, the Principal Amount.
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Application of Conversion Amounts. Unless otherwise specified by any Lender or set forth herein, any amounts converted by any Lender pursuant to subsection (i) or paid by the Borrower shall be deemed to constitute payments of and applied, (1) first, to any amounts owed other than accrued and unpaid Interest, (2) second, against accrued and unpaid Interest, and (3) third, against the Principal.
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Application of Conversion Amounts. Any amounts paid in shares of Common Stock pursuant to Section 2.1(b) shall be deemed to constitute payments of, or applied against, (i) first, outstanding fees, (ii) second, accrued interest on the Amortizing Principal ▇▇▇▇▇▇, and (iii) third, Amortizing Principal ▇▇▇▇▇▇.
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Application of Conversion Amounts. Any amounts converted by the Holder pursuant to Sections 2.1 or 3 hereof, shall be deemed to constitute payments of, or applied against, (i) first, outstanding fees, (ii) second, accrued interest on the Principal ▇▇▇▇▇▇, and (iii) third the Principal Amount.
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Application of Conversion Amounts. Any amounts converted by the Holder pursuant to Section 2.1 (a), (b), or (c) shall be deemed to constitute payments of, or applied against, (i) first, outstanding fees, (ii) second, accrued interest on the Amortizing Principal ▇▇▇▇▇▇, and (iii), the Amortizing Principal ▇▇▇▇▇▇. Any amounts converted by the Holder pursuant to a Repayment Notice pursuant to Section 2.1(d) shall be deemed to constitute payments of, or applied against, (i) first, outstanding fees, (ii) second, accrued interest on the portion of the Non-Amortizing Principal Amount that is subject to the Repayment Notice, and third, (iii) the Non Amortizing Principal Amount.
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Application of Conversion Amounts. Any principal amount which the Holder converts in accordance with this Section 2 will be deducted first from the last scheduled payment of principal due under this Note (i.e., the principal amount payable on the Maturity Date), and then sequentially from the immediately preceding payments of principal due under this Note (i.e., the Installment Amounts and the Mandatory Early Redemption Amount), unless the Holder specifies otherwise in a Conversion Notice (in which case, the principal which Holder converts in accordance herewith shall be applied as so specified in such Conversion Notice). d. Each of the Buyers, severally and not jointly, hereby agrees with the Company that, as of the date first above written, each of the 2005 Notes is hereby amended to insert the following sentence in Section 2(f)(i) of each of the 2005 Notes, such sentence to immediately follow the initial sentence thereof and to read in its entirety as follows: “Notwithstanding the foregoing, this Section 2(f)(i) shall be of no force or effect on or after the date of the November 2007 Amendment (the “November Amendment Date”) unless and until an Event of Default or a Triggering Event shall have occurred after such date.” e. Each of the Buyers, severally and not jointly, hereby agrees with the Company that, as of the date first above written, each of the 2005 Notes is hereby amended to insert the following sentence in Section 2(f)(iii) of each of the 2005 Notes, such sentence to immediately follow the last sentence thereof and to read in its entirety as follows: “Notwithstanding the foregoing, this Section 2(f)(iii) shall be of no force or effect on or after the November Amendment Date unless and until an Event of Default or a Triggering Event shall have occurred after such date.” f. Each of the Buyers, severally and not jointly, hereby agrees with the Company that, as of the date first above written, each of the 2005 Notes is hereby amended to insert a new subsection (vi) in Section 2(f) of each of the 2005 Notes, such paragraph to immediately follow Section 2(f)(v) and to read in its entirety as follows:
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Application of Conversion Amounts. Unless otherwise specified in writing by the Holder of any Security, any principal of such Security which such Holder converts in accordance with this Article 12 (other than on an Installment Date pursuant to an Installment Conversion) shall be deducted first from the Installment Amount relating to the latest Installment Date (i.e., nearest to the Maturity Date) with respect to which Installment Amounts remain outstanding and then sequentially from the immediately preceding Installment Amounts or, at the written election of such Holder, first from any principal of such Security as to which notice of redemption has been given in accordance with this Indenture but which has not yet been redeemed, and then in accordance with the foregoing. Notwithstanding the foregoing, unless otherwise specified in writing by such Holder, (a) any principal of any Security that is converted after the delivery to such Holder of an Installment Conversion Notice and prior to the applicable Installment Date shall first be deducted from the Installment Amount of such Security to be converted (or redeemed) on such Installment Date and then in accordance with the preceding sentence.
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Related to Application of Conversion Amounts

  • Notice of Adjustments of Conversion Price Whenever the conversion price is adjusted as herein provided: (a) the Company shall compute the adjusted conversion price in accordance with Section 14.04 and shall prepare a certificate signed by the Treasurer or other appropriate officer of the Company setting forth the adjusted conversion price and showing in reasonable detail the facts upon which such adjustment is based, and such certificate shall promptly be filed with the Trustee and with the Conversion Agent at each office or agency maintained for the purpose of conversion of Securities pursuant to Section 10.02; and (b) a notice stating that the conversion price has been adjusted and setting forth the adjusted conversion price shall be required, and as soon as practicable after it is required, such notice shall be delivered electronically or mailed by the Company to all Holders at their last addresses as they shall appear in the Security Register.

  • Reservation of Conversion Shares The Conversion Shares issuable upon conversion of the Shares shall have been duly authorized and reserved for issuance upon such conversion.

  • Manner of Conversion The manner of converting the shares of (i) outstanding capital stock of the Company ("Company Stock") and (ii) Newco Stock, issued and outstanding immediately prior to the Effective Time of the Merger, respectively, into shares of (x) TCI Stock and cash and (y) common stock of the Surviving Corporation, respectively, shall be as follows: As of the Effective Time of the Merger: (i) the aggregate number of shares of Company Stock issued and outstanding immediately prior to the Effective Time of the Merger, by virtue of the Merger and without any action on the part of the holders thereof, automatically shall be converted into and deemed to represent the right to receive (1) the aggregate number of shares of TCI Stock set forth on Annex I hereto and (2) subject to the adjustments described in Annex I hereto, the aggregate amount of cash set forth on Annex I hereto (the number of shares of TCI Stock and, subject to the adjustments described on Annex I hereto, the amount of cash allocable to the holders of the Company Stock being set forth on Annex I); (ii) all shares of Company Stock that are held by the Company as treasury stock shall be canceled and retired and no shares of TCI Stock or other consideration shall be delivered or paid in exchange therefor; and (iii) each share of Newco Stock issued and outstanding immediately prior to the Effective Time of the Merger, shall, by virtue of the Merger and without any action on the part of TCI, automatically be converted into one fully paid and non-assessable share of common stock of the Surviving Corporation which shall constitute all of the issued and outstanding shares of common stock of the Surviving Corporation immediately after the Effective Time of the Merger, all of which shall be owned by TCI. All TCI Stock received by the Stockholders pursuant to this Agreement shall, except for restrictions on resale or transfer described in Sections 15 and 16 hereof, have the same rights as all the other shares of outstanding TCI Stock by reason of the provisions of the Certificate of Incorporation of TCI or as otherwise provided by the Delaware GCL. All TCI Stock received by the Stockholders shall be issued and delivered to the Stockholders free and clear of any liens, claims or encumbrances of any kind or nature. All voting rights of such TCI Stock received by the Stockholders shall be fully exercisable by the Stockholders and the Stockholders shall not be deprived nor restricted in exercising those rights. At the Effective Time of the Merger, TCI shall have no class of capital stock issued and outstanding other than the TCI Stock and the Restricted Voting Common Stock.

  • Form of Conversion Notice Each convertible Security shall have attached thereto, or set forth on the reverse of the Security, a notice of conversion in substantially the following form: To: ▇▇▇▇▇▇▇▇ Offshore Services, Inc. The undersigned owner of this Security hereby: (i) irrevocably exercises the option to convert this Security, or the portion hereof below designated, for shares of Common Stock of ▇▇▇▇▇▇▇▇ Offshore Services, Inc. in accordance with the terms of the Indenture referred to in this Security and (ii) directs that such shares of Common Stock deliverable upon the conversion, together with any check in payment for fractional shares and any Security(ies) representing any unconverted principal amount hereof, be issued and delivered to the registered holder hereof unless a different name has been indicated below. If shares are to be delivered registered in the name of a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto. Any amount required to be paid by the undersigned on account of interest accompanies this Security. Dated: Signature: Fill in for registration of shares if to be delivered, and of Securities if to be issued, otherwise than to and in the name of the registered holder. (Name) Social Security or other Taxpayer Identification Number (Please print name and address) Principal amount to be converted: (if less than all) $ . Signature Guarantee* * Participant in a recognized Signature Guarantee Medallion Program (or other signature acceptable to the Trustee).

  • Effect of Conversion All shares of Preferred Stock which shall have been surrendered for conversion as herein provided shall no longer be deemed to be outstanding and all rights with respect to such shares shall immediately cease and terminate at the Conversion Time, except only the right of the holders thereof to receive shares of Common Stock in exchange therefor, to receive payment in lieu of any fraction of a share otherwise issuable upon such conversion as provided in Subsection 5.2 and to receive payment of any dividends declared but unpaid thereon. Any shares of Preferred Stock so converted shall be retired and cancelled and may not be reissued as shares of such series, and the Corporation may thereafter take such appropriate action (without the need for stockholder action) as may be necessary to reduce the authorized number of shares of Preferred Stock accordingly.